Aplos, a Fresno, CA-based software company serving the nonprofit sector, raised $4M in Series A funding.
San Joaquin Capital, a newly formed venture capital firm specializing in technology companies based in California’s Central Valley, made the investment.
The company intends to use the funds to accelerate and expand its product development efforts.
Founded in 2009 by Tim Goetz, CEO, Aplos provides a cloud-based accounting product specifically designed for small nonprofits including fund accounting software, donor management, donation processing, and Form 990 preparation and also offers management software for accountants or administrators to oversee the finances of multiple nonprofits or churches.
The company, which passed 20,000 organizations using the software in 2015, serves organizations including Kiwanis International and Assemblies of God.
Aplos previously raised $3.4m from an angel investor, bringing total funding to $7.4m.